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U.S. Department of Transportation Selects North Tarrant Express for $415 Million TIFIA Loan

Texas Business reports: AUSTIN - U.S. Transportation Secretary Ray LaHood announced Tuesday that Texas’ North Tarrant Express project has entered the final stage to receive $415 million under the Transportation Infrastructure Finance and Innovation Act (TIFIA) financing program, advancing a project that will address safety and congestion.

The North Texas project includes improvements to sections of I-35W and construction of an interchange at I-35W and I-820. 

In addition, the project develops multimodal managed lanes to serve the region’s public transportation providers. 

The portions of I-35W slated for improvement currently rank 5th and 25th on the list of Texas’ most congested roadways. The Texas Department of Transportation’s (TxDOT) North Tarrant Express application requested $537 million in Fiscal Year 2012 TIFIA credit assistance.

In recent years, TxDOT sought funding for North Tarrant Express improvements from the U.S. Department of Transportation TIFIA credit assistance, TIGER III and TIGER IV programs. Funds for the Fiscal Year 2012 TIFIA program were appropriated in the Transportation, Housing and Urban Development and Related Agencies Appropriations Act for 2012.

“I’m thankful that Secretary LaHood and the U.S. Department of Transportation will partner with us on the North Tarrant Express with this significant award,” said Bill Meadows, a member of the Texas Transportation Commission from Fort Worth. “This would not have been possible without the constant support of the community's public and private sector leaders. The North Tarrant Express project will address congestion in a corridor critical for national and international trade, improving our region’s transportation network and advancing the development of multimodal managed transit lanes to serve our region’s public transportation providers.”

 TxDOT has planned for I-35W improvements with its local partners while seeking a funding award. Construction could begin in 2013, subject to a final agreement with TxDOT’s project partners, and subsequent determination of legal sufficiency by the Attorney General and Legislative Budget Board approval.